July 31, 2009: CONGRESSMAN RYAN VOTES TO ADD $2 BILLION TO POPULAR “CASH FOR CLUNKERS” PROGRAM

Jul 31, 2009
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Washington, DC – Today, Congressman Tim Ryan (OH-17) voted to extend up to $2 billion in funds for the wildly popular “cash for clunkers” program that he co-sponsored. The law allows consumers to trade in their old cars for vouchers worth up to $4,500 to help pay for new, more fuel-efficient vehicles. The Consumer Assistance to Recycle and Save Act has been active for only five days and has already proven to be wildly popular with consumers.

 

“In only five days, we almost exhausted the entire program. People are lining up to get into auto dealerships and take advantage of this unprecedented program,” said Congressman Tim Ryan. “I hope also that those are taking advantage of this program will consider buying American-made vehicles.”

 

The legislation provides rebates for cars and trucks in the following four categories:

  • Passenger Cars: The old vehicle must get 18 mpg or less. New vehicles with improvement of at least 4 mpg will get a $3,500 voucher. New vehicles with improvement of at least 10 mpg will get a $4,500 voucher.
  • Light-Duty Trucks: The old vehicle must get 18 mpg or less. New vehicles with improvement of at least 2 mpg will get a $3,500 voucher. New vehicles with improvement of at least 5 mpg will get a $4,500 voucher.
  • Large light-Duty Trucks: The old vehicle must get 15 mpg or less. New vehicles with improvement of at least 1 mpg will get a $3,500 voucher or trade-in of a “work truck.” New vehicles with improvement of at least 2 mpg will get a $4,500 voucher.
Work Trucks: The old vehicle must be a pre-2002 model. New vehicles in the same or smaller weight class will get a $3,500 voucher.